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Business structure
What is meant by "business structure"?
Business structure refers to the legal and organizational framework that determines how a business is set up, owned, and operated. It defines the relationships between owners, managers, and employees, as well as the allocation of rights and responsibilities.
What are the different types of business structures?
Different types of business structures include sole proprietorship, partnership, corporation, and limited liability company (LLC). Each structure has its own characteristics and legal implications.
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